Mortgage Tools & Guides

Get in touch with us to find out how high you can go with your property price. Our specialists can advise on the following:

• Amount You Can Borrow
• Cost of Moving Analysis (includes stamp duty, legal fees, etc.)
• Indication of Monthly Mortgage Payments

Afterwards, we will be able to provide you with an agreement if that is required. 

Now you know how high you can go, start looking at properties in your price range. We highly recommend arranging viewings so you can really take a look. Sometimes, it’s the first one you see, but don’t get discouraged if that’s the case. It can sometimes take a bit of time to find your property. When you do find it, make an offer and let us know. We can get in touch with the estate agent/seller to verify and strengthen your position.

Once the sale is agreed, the estate agent will ask for the details of your mortgage broker and solicitor if they haven’t already. They will then produce a memorandum of sale.

Find a conveyancer to act on your behalf. A conveyancer is a solicitor who specialises in properties and the seller will also have one to ensure a seamless process. If you are in need of a solicitor, we can refer you to a trusted property specialist. 

The seller’s solicitor will obtain the title deeds and draw up a contract while yours performs any necessary searches. These can include but are not limited to:

• Land Registry Searches
• Local Authority Searches
• Planning History 
• Nearby Drains & Utilities
• Potential Local Developments

While the solicitors are getting to work, we will start your mortgage application. 

The mortgage lender will conduct a valuation to make sure they are happy with the price offered and take on the property. Your case will also be underwritten by the lender, and we will go back and forth with them until all queries are satisfied. 

 Once that’s happened, you will receive your mortgage offer. This usually gets to you within 2 to 3 weeks, depending on your position. 

Once you have your mortgage offer, it can be a good idea to carry out a more detailed survey of the property. These are often called homebuyers or full structural reports and should be conducted by a qualified surveyor. They will then be able to inform you of any issues with the building, ensuring you know the exact condition of your property. The sort of things they may discover include suspected asbestos, damp, and even potential structural issues. 

Before you can exchange on the property, you will need to have all the relevant insurance policies in place. This is a legal requirement and offers extra protection for your building. Necessary insurance policies can include buildings and contents insurance as well as life insurance. When buying a flat, you might find that your buildings insurance will be included in the service charge. 

To make this process easier, we will get in touch with you and help you see what form of insurance is needed in your case. 

Now it’s time to sign the contract and exchange! Your solicitor will request your deposit to be transferred over, legally binding both you and the seller to the purchase. This is the perfect time to:

• Check Insurance Contracts – these should all be fully completed and in force by this point. 
• Advise everyone of your change of address – Not only do you need to let your utility companies know, there is a whole host of people to update on your change of address like the bank, employers, doctors, etc. If you are worried about missing any post however, you can organise a mail redirection with the Royal Mail. 
• Removals – Whether you’re looking to move everything yourself or hire a removals company to get everything into your property, it’s really time to get thinking about it! Your moving in date will be here before you know it and it’s best to let relevant parties know as soon as possible. 

This is it. The sale’s completion. Your solicitor will go through the final steps for you, making sure everything is covered. First, they will get the remaining funds from the lender and then pay the balance of the purchase price to the seller’s solicitor. Once the payment has gone through, the seller’s solicitor will let the relevant parties know, whether the seller or an estate agent, and the keys will be released. Once those keys have been released, that means you are now the proud owner of the property. 

Congratulations!